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How Does Islamic Fintech Promote the SDGs? Qualitative Evidence from Indonesia
Fahmi Ali Hudaefi

Academy of Islamic Studies, University of Malaya


Abstract

This study reviews the existing Islamic fintech lending in Indonesia to understand the degree to which the firms have been promoting sustainable development goals (SDGs) in the local context. To do so, the theoretical literature related to fintech and SDGs are reviewed firstly to explore the understandings of the subject matters. Following this, the official reports from the domestic regulators are employed to select the firms for in-depth review. This work finds the selected firms mostly have been financing the underdeveloped sectors, such as agriculture and Small and Micro Enterprises (SMEs), collecting and distributing Islamic funds which are Infaq, Waqf, and Shadaqah, and conducting charity programmes for the underprivileged community. To an extent, these findings are synonymous of the firms- effort in promoting the SDGs of ending poverty and hunger, advancing clean energy, and reducing the inequalities. Due to the method engaged, these shreds of evidence do not provide any positivist generalisation. Even so, this is the first study substantively confirms the role of fintech firms in implementing the SDGs from the Indonesian perspective. A recommendation demands the Indonesian government collaborating legally with the existing fintech firms to best solve its recent issue of the declining trend in the SDGs of life on land.

Keywords: Islamic Fintech, Sustainable Development Goals (SDGs), Review, Indonesia

Topic: Islamic Finance Technology (Shariah Fintech)

Link: https://ifory.id/abstract/kfJQBebr2GEP

Conference: THE 4th ANNUAL ISLAMIC FINANCE CONFERENCE (AIFC 2019)

Plain Format | Corresponding Author (Fahmi Ali Hudaefi)

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